2017ANNUAL REPORT MESSAGE FROM THE CHAIR MESSAGE FROM THE CEO

The past years have been ones of exciting It is a great privilege to have transformation and growth for the the opportunity to lead the Corporation. The work of the Board of Kingston Economic Development Directors deserves recognition. Representing Corporation and work under the both public and private sectors, we’ve community Board of Directors focused on bringing in members with unique to advance Kingston’s economy. and diverse insights and experiences. The With a dedicated team of Board of Directors invested significant business development officers time reviewing and updating policies, and supportive business and procedures, and performance indicators to community partners, we are ensure the best practices as an economic the sales officers for the city of Judith Pineault, Chair development organization are in place. We Donna Gillespie, CEO Kingston. To be successful at this, have formalized a service level agreement with the City of Kingston and set we have taken the Team Kingston approach –where we recognize the direction for working in tandem with the municipality. there are many individuals and entities involved in economic development and that as a team, we are stronger together. The Board of Directors undertook a national search for senior leadership and set upon establishing a new, separately incorporated destination With new foreign investments and global attention, we have marketing organization. With support from the community and an engaged expanded the city’s global reach by participating in and hosting Board of Directors, Kingston Economic Development achieved many international delegations. While going global, our commitment milestones. to the local Kingston business community has never wavered and increased focus on supporting export based, growth oriented This strong foundation has led to recent success in attracting new business businesses has been a priority. We have worked with the City to Kingston. This in turn has brought global attention by the Financial and community partners to develop workforce development Times in London, UK recognizing Kingston as the best small city in the and people attraction/retention strategies so that Kingston can America’s for Foreign Direct Investment Strategy. support today’s needs and needs of the economy of the future.

We both look forward to continued success working with City Council and the business community to position Kingston as one of Canada’s leading economies.

Team Kingston present in photo from left to right: Judith Pineault (Chair, Kingston Economic Development Corporation), Walter Fenlon (Imagine Kingston), Harry Kowal (Royal Military College of Canada), Garrett Elliott (Launch Lab), Mayor Bryan Paterson (City of Kingston), Donna Gillespie (Kingston Economic Development Corporation), Martin Sherris (Greater Kingston Chamber of Commerce), Maj Roger Pierce (CFB Kingston), Grant Goodwin (Innovate Kingston), Debora Rantz (Limestone District School Board), Drew Phillips (Launch Lab), Doug Ritchie (Downtown Kingston! BIA), LCol Ed Padvaiskas (CFB Kingston), Janice Mady (Queen’s University), Regrets: St. Lawrence College, Utilities Kingston, KEYS Employment Services, Correctional Services Canada.

Cover photo by: Suzy Lamont • Design by: mutchmedia inc.

ANNUAL REPORT 2017 2 KINGSTON ECONOMIC DEVELOPMENT CORPORATION VISION 2018 BOARD STAFF An innovative city where private and public Judith Pineault, Chair Donna Gillespie enterprises thrive, individuals and entrepreneurs Chief Executive Officer, Eastern Fluid Power Inc. Chief Executive Officer grow, and a diversity of people want to visit, Dave Carnegie, Vice-Chair / Treasurer live, work and do business. Senior Environmental Consultant, Malroz Engineering Inc. Kirk Smallridge Operations & Communications Officer/ Trevor Wilson, Secretary Corporate Secretary to the Board of Directors Senior Principal Consultant, Maven Wave Partners

MISSION Bill Durnford Carey Bidtnes General Manager, Ambassador Hotel & Conference Centre Business Development Officer Provide dynamic and collaborative leadership Attraction & Aftercare by leveraging Kingston’s unique assets to create Don Aldridge jobs and investment in order to sustain, grow Executive Director, Centre for Advanced Computing Ella Vanderburgt and transform Kingston’s economy to meet the Gillian Watters Business Development Officer needs of the 21st century. We aim to be one of Program Director, KEYS Job Centre Retention & Expansion Canada’s leading economies. John Sheridan Retired CEO Ballard Power Systems & Corporate Director Katie Ross Business Development Officer Lyndsay Wise Startup & Youth Business Director, Information Builders CORPORATE VALUES Bryan Paterson Andrew Bacchus Mayor City of Kingston Business Development Officer & PRINCIPLES Emerging Sectors The Kingston Economic Development Laura Turner Councillor, Lakeside District Corporation is committed to: Yina Wang • Openness, transparency and accountability Gerard Hunt, ex officio Business Development Officer Chief Administrative Officer, City of Kingston for the use of all public funds; Chinese Markets • Highest standards of professional conduct; Rob Hutchison Councillor, King’s Town District Dajana Turkovic • Respect for client confidentiality; Business Development Officer Gary Oosterhof Workforce Development • Organizational excellence through efficient Councillor, Countryside District and effective operating procedures; Rob Kawamoto, ex officio Lindsay Robinson • Strong commitment to the best practices of Executive Director, Tourism Kingston Business and Community Relations Officer corporate governance. Thank you to our summer and seasonal students, Riley Hewitt (St. Lawrence College) and Sylvia McDermott (Queen’s University)

ANNUAL REPORT 2017 3 KINGSTON ECONOMIC DEVELOPMENT CORPORATION of budget in 35% received $466,750 grants From non-municpal Grants dispersed to sources ECONOMIC DEVELOPMENT PRIORITIES local businesses

712 inquires 500 consultations Inquiries for support Consultations with and service local businesses and potential start-ups HIGHLIGHTS

workshops events 56 delivered 1,502 participants Workshops and Workshop and event events delivered participants

ANNUAL REPORT 2017 4 KINGSTON ECONOMIC DEVELOPMENT CORPORATION ECONOMIC DEVELOPMENT PRIORITIES

ATTRACTION & AFTERCARE BUSINESS RETENTION Marketing Kingston as & EXPANSION a premier city for new Supporting local businesses to investment and supporting become more competitive, grow the onboarding of new new revenue and create new jobs developments.

START-UPS, YOUTH WORKFORCE EMERGING DEVELOPMENT & ENTREPRENEURSHIP Attracting and retaining people Delivering programs and services SECTORS Identifying sector strengths, to live and work in Kingston to to support new business growth trends and future investment meet the needs of today’s and the next generation of opportunities employers and prepare for business leaders. workplace needs of the future

ANNUAL REPORT 2017 5 KINGSTON ECONOMIC DEVELOPMENT CORPORATION ECONOMIC PERFORMANCE METRICS KINGSTON, AMERICAN CITIES OF Investment Attraction and Investment Aftercare Number of investment inquiries 215 Inquiries THE FUTURE 2017/18 Value of new investment and new jobs facilitated $245 million in new investment that can be attributed to direct EDO assistance announced with attraction 50 new jobs Business Retention and Expansion Number of consultations with local businesses 231 Consultations Number of inquiries for services 188 inquiries TOP 10 SMALL AMERICAN CITIES OF THE FUTURE Number of Value of new jobs and new investment 46 New Jobs 2017/18 FOREIGN DIRECT INVESTMENT STRATEGY RANK CITY STATE COUNTRY facilitated that can be attributed to direct EDO 96 Expanded Jobs 1 KINGSTON ONTARIO CANADA assistance and retention $3.8 Million New Investment 2 Ontario Canada 3 Mobile Alabama US Number of Business Planning Programs and 56 Public Events and Workshops 4 Santa Clarita California US Seminars Conducted and Number of Attendees 1,502 Participants 5 Lafayette Louisiana US 6 Spokane Washington US 7 Lexington Kentucky US 8 Frisco Texas US Start-ups, Entrepreneurs and Youth Business 9 Richarson Texas US Number of Inquiries Received 309 Inquiries 10 Richmond British Columbia Canada Number of Consultations Provided 269 Consultations TOP 10 SMALL AMERICAN CITIES OF THE FUTURE Number of New Businesses Started Who are 80 New Business 2017/18 HUMAN CAPITAL AND LIFESTYLE Working with the EDO RANK CITY STATE COUNTRY 1 Tempe Arizona US Number of New Jobs Created by Business Who 117 New Jobs 2 Denton Texas US 3 Athens Georgia US are working with the EDO 4 Ontario Canada *Reviewed by Working Group: Desiree Kennedy, City Treasurer; Scott Carson, Professor, Smith School 5 Pasadena California US of Business; and Simon Froggatt, Managing Partner, KPMG. Reported and Received by City Council 6 KINGSTON ONTARIO CANADA November 28, 2017. 7 Arlington Virgina US 8 Irvine California US 9 Lincoln Nebraska US 10 Gainesville Florida US

ANNUAL REPORT 2017 6 KINGSTON ECONOMIC DEVELOPMENT CORPORATION GOING GLOBAL Africa India Kingston Economic Development Corporation, in partnership with MAPP Africa, In celebration of India’s 70 Years of Independence, Kingston EcDev, Queen’s hosted a delegation of representatives from the Southern Africa Ambassador University and the India-Canada Association of Kingston welcomed the Indian Corps in June, 2017. Heads of Embassy Mission to Canada for Angola, High Commissioner in September, 2017. His Excellency Mr. Vikas Swarup Lesotho, Democratic Republic of Congo, Madagascar, South Africa, Tanzania, delivered a lecture on The New India and discussed opportunities for India Zambia and Zimbabwe spoke to local business owners about the economic Canada partnerships and business development. opportunities in Africa, in particular the Southern African Development Community. The delegation toured local Kingston businesses and Queen’s Kingston-Syracuse Pathway University research facilities. Kingston Economic Development Corporation, Office of Partnerships and Innovation at Queen’s University, and Ontario East Economic Development China Commission forged a new initiative in 2017 with the Center State Corporation In 2017 Kingston representatives were invited to China to tour Feihe for Economic Opportunity, SUNY Upstate Medical University, and the Central International’s corporate headquarters and manufacturing/farming facilities. New York Biotech Accelerator to foster a Kingston-Syracuse Pathway to Meetings were held with trade commissioners and private businesses interested support mutual business and research collaborations. Launched in early 2018, in international investment. Throughout 2017, Kingston welcomed 11 visiting the Kingston-Syracuse Pathway results from a year of collaboration between delegations from the People’s Republic of China to Kingston. Interested business, government and academic leaders from both sides of the border. A investors and researchers were hosted to introduce representatives to local Memorandum of Understanding confirms mutual interest in supporting business businesses, research opportunities and municipal leaders. growth by working collaboratively to facilitate research and development, to optimize opportunities to advance economic development in Eastern Ontario and Central/Northern New York State. The Kingston-Syracuse Pathway joins three preceding models of cross border collaboration: the Cascadia Innovation Corridor, Windsor-Detroit, and the Binational Research & Innovation Corridor.

ANNUAL REPORT 2017 7 KINGSTON ECONOMIC DEVELOPMENT CORPORATION I was initially drawn to the summer company program for its grant, but I quickly realized the program offered far more beneficial things. The networking within Kingston was really valuable as well as the mentorship… I think those are the two most valuable things.

Cole MacDonald - Mero Technologies, Janice Mady, Queen’s University, Office of Partnerships and Innovation with Kingston Economic Development Summer Company Class of 2017 Corporation’s Katie Ross, Business Development Officer Startup & Youth Business

SUMMER COMPANY, STARTER COMPANY & STARTER COMPANY PLUS

Thirty students launched new businesses as From 2014-2017, 74 new businesses were part of the 2017 Summer Company program supported by the provincial Starter Company funded by the Ontario Ministry of Economic program for youth under 29 years of age. Development & Growth. The Summer Company Kingston Economic Development distributed total program is designed to provide students the grants of $368,750 to participating businesses. opportunity to start a business and develop The provincial Ministry of Economic Development entrepreneurial skills. Kingston EcDev offers and Growth evolved the program into Starter hands on training and coaching combined with Company Plus open to all businesses for 2017- mentoring provided by community business 2019. In 2017 with a partnership with Frontenac leaders. $90,000 in grants were distributed to Community Futures Development Corporation a local youth. total of $400,000 in grants were distributed to 37 companies in the region.

ANNUAL REPORT 2017 8 KINGSTON ECONOMIC DEVELOPMENT CORPORATION TOURISM Tourism is a leading sector of the Kingston economy – representing Tourism Kingston became a separately incorporated not for profit 7,500 jobs and close to $1billion in annual economic impact. The tourism organization in January, 2017. With the appointment of an inaugural sector not only brings outside dollars into our community but is also a Board of Directors, the new corporation recruited its first executive first point of introduction to the city for potential residents and business director, Rob Kawamoto in July. Throughout 2017, Kingston Economic owners. Tourism assets are people assets, making Kingston not only a Development supported Tourism Kingston as it set up its operations destination but a great place to live and work. and transitioned from a division of Kingston EcDev.

2017/2018 Tourism Board of Directors Murray Matheson, Retired former Executive Director, Kingston Accommodation Partners (Chair) Hugh Mackenzie, General Manager, Kingston Destination Group (Vice-Chair) Aba Mortley, Owner, Cher-Mère (Secretary/Treasurer) Lindsey Fair, Director, Arts & Science Marketing & Communications, Queen’s University Mayor Bryan Paterson, City of Kingston Councillor Adam Candon, Trillium District Councillor Liz Schell, Portsmouth District Brett Christopher, General Manager, Thousand Islands Playhouse Bill Durnford, General Manager, Ambassador Hotel & Conference Centre Heather Ford, Owner, Green Acres Inn/Kingston Food Tours Paul Fortier, Owner, Jessup Food & Heritage Tim Pater, Owner, Black Dog Hospitality Group Megan Knott, Executive Director, Kingston Accommodation Partners (ex-officio) Lanie Hurdle, Deputy CAO, City of Kingston (ex-officio) Donna Gillespie, CEO, Kingston Economic Development (ex-officio)

ANNUAL REPORT 2017 9 KINGSTON ECONOMIC DEVELOPMENT CORPORATION CanadaLARGEST Royal Milk, a division of Feihe $225 millionINVESTMENTS investment that is anticipated to IN KINGSTON HISTORY We were extremely impressed by the International selected Kingston for their create 277 new jobs and many more indirect jobs. leadership the Kingston EcDev team manufacturing location and research and Feihe’s infant formula plant plans to manufacture development facility. demonstrated on behalf of the people up to 60,000 tons of dry infant formula annually, of Kingston. We are even more confident The 320,000 square foot plant is now using milk from Canadian farms. under construction in the Cataraqui Estates that our groundbreaking project will be a Feihe International will be Canada’s first and success. Business Park and is anticipated to be in only infant formula production facility. operation by 2020. – Judy Tu, Vice President, Feihe International

ANNUAL REPORT 2017 10 KINGSTON ECONOMIC DEVELOPMENT CORPORATION LARGEST INVESTMENTS IN KINGSTONFrulact Group selected Kingston, Ontario as the home for theirHISTORY first North American plant and research facility. The company acquired 15 acres of prime development land in the Cataraqui Estates Business Park with an option for an additional 15 acres and plans to hire approximately 50 employees. In May 2017, this 55,000 square foot facility opened and began manufacturing. In early 2018, Frulact announced a 30,000 square foot expansion to their Kingston facility - creating 75 jobs by 2019!

I have the pleasure to congratulate Kingston EcDev for the enormous job that you are doing for the success and visibility of “my new city” of Kingston. You are really a passionate team that loves what you are doing and have the right capability to make the things happen… and it makes the differences. – João Miranda, CEO, Frulact

ANNUAL REPORT 2017 11 KINGSTON ECONOMIC DEVELOPMENT CORPORATION KINGSTON AT A GLANCE Montreal 161,000 Ranked Among Top Places to Live IN CANADA RESIDENTS Close to 7 Provincial Parks, hundreds In Kingston CMA of lakes and cottage country + KINGSTON’S + 6,000 Globally Recognized Academic Institutions 5,000 Small & Medium Queen’s University International students St. Lawrence College calling Kingston home BUSINESSES Royal Military College in 2017 BEST + + Freshwater 100 200 Sailing Harbour Restaurants Specialty in North America & Cafés Stores 1,630 In one of our country’s most vibrant downtowns DESIGNATED BEST CITY YOUTH IN CANADA NEWCOMERS Friendly City for women to live WELCOMED since 2011

ANNUAL REPORT 2017 12 KINGSTON ECONOMIC DEVELOPMENT CORPORATION KINGSTON AT A GLANCE FINANCIAL CANADA TIMES UK ROYAL MILK A division of Feihe International Inc. names Kingston Breaks ground on one of the SMALL CITY 60 largest agribusiness foreign for foreign direct direct investments in Canada. investment strategy acres CITY Employment Lands for human capital Sold in 2017 $250 & lifestyle Up from 17 acres in 2016 Million FRULACT CANADA Investment opens first North American manufacturing facility in Kingston 320,000 Manufacturing home of the largest Facility CANADIAN QUALITY FORCES BASE in the country HEALTH CARE 3,700+ Military & Kingston Health Sciences Centre 1,500 800 Civilian Employees & Providence Care Indirect Jobs

BEST CITY AVERAGE PRICE $299,900 250 IN CANADA Standard Bungalow for millennials to live New Full-time Jobs

ANNUAL REPORT 2017 13 KINGSTON ECONOMIC DEVELOPMENT CORPORATION KINGSTON CMA - JOB GROWTH BY INDUSTRY NAICS Description 2016 2017 2016 - 2017 2016 - 2017 Jobs Jobs Change % Change 11 Agriculture, forestry, fishing and hunting 100 96 (4) (4%) 21 Mining, quarrying, and oil and gas extraction 180 188 8 4% 22 Utilities 390 392 2 1% 23 Construction 4,889 4,998 109 2% 31-33 Manufacturing 4,011 4,010 (1) (0%) 41 Wholesale trade 2,263 2,297 34 2% 44-45 Retail trade 9,482 9,547 65 1% 48-49 Transportation and warehousing 1,914 1,971 57 3% 51 Information and cultural industries 1,401 1,428 27 2% 52 Finance and insurance 2,601 2,645 44 2% 53 Real estate and rental and leasing 1,567 1,626 59 4% 54 Professional, scientific and technical services 3,076 3,146 70 2% 55 Management of companies and enterprises 622 631 9 1% 56 Administrative and support, waste management and remediation services 3,991 4,046 55 1% 61 Educational services 12,880 13,184 304 2% 62 Health care and social assistance 11,331 11,750 419 4% 71 Arts, entertainment and recreation 830 862 32 4% 72 Accommodation and food services 7,899 8,121 222 3% 81 Other services (except public administration) 2,452 2,458 6 0% 91 Public administration 10,136 10,253 117 1% X0 Unclassified 1,567 1,598 31 2% TOTAL 83,582 85,247 1,665 2% * EMSI Analyst Platform

ANNUAL REPORT 2017 14 KINGSTON ECONOMIC DEVELOPMENT CORPORATION KINGSTON CMA - ECONOMIC INDICATORS

2015 2016 2017 2018 2019 2020 2021 2022 Real GDP at basic prices (2007 $ millions) 7,329 7,518 7,711 7,828 7,937 8,049 8,181 8,320 2.3 2.6 2.6 1.5 1.4 1.4 1.6 1.7 Total employment (000s) 83 84 86 86 87 88 89 90 1.9 0.8 3.3 –0.7 1.2 1.2 1.5 1.5 Unemployment rate (per cent) 6.8 5.7 5.7 5.8 5.7 5.5 5.6 5.7 Household income per capita ($) 42,485 42,801 43,762 44,581 45,929 47,209 48,682 50,249 1.2 0.7 2.2 1.9 3.0 2.8 3.1 3.2 Population (000s) 169 171 173 174 175 177 178 179 0.7 1.2 1.0 0.7 0.7 0.7 0.7 0.6 Total housing starts 655 412 683 640 617 651 686 706 Retail sales ($ millions) 2,194 2,298 2,421 2,479 2,532 2,574 2,626 2,679 2.7 4.7 5.3 2.4 2.1 1.7 2.0 2.0 CPI (2002 = 1.000) 1.274 1.297 1.318 1.345 1.375 1.404 1.433 1.463 1.2 1.8 1.6 2.1 2.2 2.1 2.1 2.1 Shaded area represents forecast data. For each indicator, the first line is the level and the second line is the percentage change from the previous period. Sources: The Conference Board of Canada; Statistics Canada; CMHC Housing Time Series Database.

ANNUAL REPORT 2017 15 KINGSTON ECONOMIC DEVELOPMENT CORPORATION Kingston Economic Development Corporation Statement of Financial Position as at December 31, 2017 2017 2016 Assets Current Assets Cash $ 748,385 $ 519,227 Investments* 280,375 275,112 Accounts receivable* 235,495 65,412 Receivable from City of Kingston* - 258,072 Inventory – tourism items for resale 16,014 18,045 Sales tax recoverable 47,492 28,669 Prepaid expenses and refundable deposits* 76,440 31,097 1,404,201 1,195,634 Investment in PARTEQ Angel Network* 10,000 20,000 Capital Assets* 72,495 121,140 $1,486,696 $1,336,774 Liabilities Current Liabilities Accounts payable and accrued liabilities $ 249,780 $ 225,304 Payable to City of Kingston* 46,283 - Deferred revenue* 50,039 162,374 346,102 387,678 Deferred Contributions Related to Capital Assets* 27,749 44,948 Deferred Lease Inducements* 23,557 39,822 397,408 472,448 Fund Balances Investment in Capital Assets* 44,746 76,192 Board Restricted* 10,000 20,000 Other Board Restricted* 90,000 20,000 Unrestricted 944,542 748,134 1,089,288 864,326 $1,486,696 $1,336,774 Commitments and Contingencies* Economic Dependence* Restructuring*

* To view notes and full audited financials statements - please visit www.business.kingstoncanada.com/afs

ANNUAL REPORT 2017 16 KINGSTON ECONOMIC DEVELOPMENT CORPORATION Kingston Economic Development Corporation Statement of Operations | Year Ended December 31, 2017 2017 2016 Revenues Contributions from the Corporation of the City of Kingston* $2,615,903 $2,615,901 Provincial government contributions* 620,622 275,388 Federal government contributions 47,297 45,703 Resale materials 103,336 156,030 Events and seminars 10,820 32,797 Partnership revenue and corporate investors* 174,332 105,534 Amortization of deferred contributions* 17,199 17,199 Commissions & online reservations* 7,043 19,114 Interest 8,969 6,896 Total Revenues 3,605,521 3,274,562

Expenses Accounting and legal* 102,164 76,635 Advertising 258,239 384,010 Amortization 87,960 82,362 Bank charges 9,745 12,449 Equipment rental 127 3,922 Events and meetings 133,405 213,945 Grant disbursements 466,750 - Information technology support* 46,488 56,329 Insurance 12,162 8,069 Memberships and licenses 53,363 59,603 Office and miscellaneous 43,689 54,721 Professional contractors 349,395 247,778 Professional development 21,037 36,163 Rent* 134,300 157,632 Resale materials 38,898 79,854 Salaries and benefits 1,267,484 1,350,658 Sponsorships and donations 259,740 210,525 Telephone 15,112 16,171 Travel 70,501 71,376 Total Expenses 3,370,559 3,122,202 Excess of revenues over expenses before the undernoted item 234,962 152,360 Impairment in investment in PARTEQ Angel Network* 10,000 - Excess of revenues over expenses $ 224,962 $ 152,360

* To view notes and full audited financials statements - please visit www.business.kingstoncanada.com/afs

ANNUAL REPORT 2017 17 KINGSTON ECONOMIC DEVELOPMENT CORPORATION Kingston Economic Development Corporation Schedule of Operations by Department | Year Ended December 31, 2017 EcDev Tourism Total Total Office Kingston 2017 2016 Revenues Contributions from the Corporation of the City of Kingston $1,418,542 $1,197,361 $2,615,903 $2,615,901 Provincial government contributions 618,392 2,230 620,622 275,388 Federal government contributions 47,297 - 47,297 45,703 Resale materials - 103,336 103,336 156,030 Events and seminars 5,388 5,432 10,820 32,797 Partnership revenue and corporate investors 73,254 101,078 174,332 105,534 Amortization of deferred contributions 17,199 - 17,199 17,199 Commissions & online reservations (net)* - 7,043 7,043 19,114 Interest 7,886 1,083 8,969 6,896 Total Revenues 2,187,958 1,417,563 3,605,521 3,274,562

Expenses Accounting and legal 62,645 39,519 102,164 76,635 Advertising 87,720 170,519 258,239 384,010 Amortization 70,030 17,930 87,960 82,362 Bank charges 4,929 4,816 9,745 12,449 Equipment rental 127 - 127 3,922 Events and meetings 70,819 62,586 133,405 213,945 Grants disbursements 466,750 - 466,750 - Information technology support 24,435 22,053 46,488 56,329 Insurance 8,350 3,812 12,162 8,069 Memberships and licenses 32,836 20,527 53,363 59,603 Office and miscellaneous 18,538 25,151 43,689 54,721 Professional contractors 244,710 104,685 349,395 247,778 Professional development 20,884 153 21,037 36,163 Rent 53,947 80,353 134,300 157,632 Resale materials - 38,898 38,898 79,854 Salaries and benefits 717,107 550,377 1,267,484 1,350,658 Sponsorships and donations 76,092 183,648 259,740 210,525 Telephone 6,589 8,523 15,112 16,171 Travel 41,090 29,411 70,501 71,376 Total Expenses 2,007,598 1,362,961 3,370,559 3,122,202 Impairment in investment in PARTEQ Angel Network 10,000 - 10,000 - Excess of revenues over expenses $ 170,360 $ 54,602 $ 224,962 $ 152,360

* To view notes and full audited financials statements - please visit www.business.kingstoncanada.com/afs

ANNUAL REPORT 2017 18 KINGSTON ECONOMIC DEVELOPMENT CORPORATION COMMUNITY LEADERSHIP Thank you to the community leaders who served on the Kingston Economic Development Corporation’s Board of Directors. Your leadership and dedication to growing the Kingston community and supporting our initiatives is invaluable.

John Armitage 1998-1999 Brad Ross 2005-2007 Cllr Brian Reitzel 2013-2014 Elizabeth Bahner 1998-2000 Randy Cleary 2006-2007 Sandra Gibson 2013-2016 Richard Lobb 1998-2000 Shai Dubey 2006-2011 Peter Kraus 2013-2016 Mayor Gary Bennett 1998-2001 Bill Gray 2007-2008 John Proctor 2014 Bill Campbell 1998-2001 Curtis J Smith 2007-2008 Niall O’Driscoll 2014-2016 Bob Clark 1998-2001 Nancy Foster 2007-2009 Bo Wandschneider 2014-2017 Cllr Joe Hawkins 1998-2001 Cllr Dorothy Hector 2007-2009 Greg Shannon 2015 Cllr Peter Jardine 1998-2001 Cllr Rob Hutchison 2007-2010 Cllr Jeff McLaren 2015 Don Case 1998-2004 Cllr 2007-2009 Shai Dubey 2015-2016 George Hood 1998-2004 Gord MacDougall 2007-2012 Cllr Richard Allen 2015-2016 Peter Merkley 1998-2005 David Rutenberg 2007-2012 Cllr/Mayor Bryan Paterson 2011-2018 Doug Girvin 2000-2001 Debi Wells 2007-2012 Dave Carnegie 2015-2018 Lorne Weary 2000-2001 Derek Winton 2007-2012 Bill Durnford 2015-2018 Hugh Mackenzie 2001-2002 Garry King 2009 Judith Pineault 2015-2018 Cllr George Stoparczyk 2001-2004 Cllr Vicki Schmolka 2009-2010 Cllr Laura Turner 2015-2018 Mayor Isabel Turner 2001-2004 Tim Sugrue 2009-2014 Cllr Rob Hutchison 2015-2018 Joe DeMora 2001-2006 Cllr Ed Smith 2010 Lyndsay Wise 2016-2018 Cllr Lenore Foster 2001-2006 Dean Byrnes 2010-2015 Gillian Watters 2016-2018 Bernie Robinson 2001-2006 Jim Gibson 2011-2013 Trevor Wilson 2016-2018 Cllr George Sutherland 2001-2006 Douglas Green 2011-2013 Cllr Kevin George 2017 Bill Allinson 2002-2006 Mayor Mark Gerretsen 2011-2014 Peter Dalton 2017 Jay Abramsky 2004-2006 Cllr Sandy Berg 2011-2014 Don Aldridge 2018 Cllr Bittu George 2004-2006 Cllr Rick Downes 2011-2012 John Sheridan 2018 Venicio Rebelo 2004-2006 Dave MacLeod 2013 Cllr Gary Oosterhof 2018 Mayor Harvey Rosen 2004-2010 Adam Koven 2013-2014

ANNUAL REPORT 2017 19 KINGSTON ECONOMIC DEVELOPMENT CORPORATION 945 Princess Street at Innovation Park Kingston, Ontario K7L 0E9 Tel: 613-544-2725 | kingstoncanada.com

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